DAVITA KIDNEY CARE9127 N. 76th St., Milwaukee, WI 53223
OFFERINGMEMORANDUM
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
The material contained in this Offering Memorandum is confidential and for the purpose of the Real Estate described herein. It is subject to the terms and provisions of the Confidentiality Agreement signed by the recipient of this material and is not be used for any purpose or made available to any other person without the express written consent of Founders 3 Estate Services (“Broker”).
This Offering Memorandum was prepared on March 8, 2018 by Broker solely for the use of prospective purchasers of 9127 N. 76th St., Milwaukee, WI (the “Real Estate”). Neither Broker, Windmill Hill, LLC (the “Seller”) nor any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the completeness or the accuracy of the material contained in the Offering Memorandum or any of its contents and no legal commitments or obligations shall arise by reason of the package or any of its contents. Seller reserves the right to eliminate any portion or all of the Real Estate for any offer for sale at any time prior to the completion of a binding contract of sale executed by both Seller and a prospective purchaser.
Prospective purchasers of the Real Estate are advised (i) that changes may have occurred in the condition of the Real Estate since the time of the Offering Memorandum or the financial statements therein were prepared and that (ii) all financial projections are provided for general reference purposes only in that they are based on assumptions relating to the general economy, competition, and other factors beyond the control of Broker and the Seller and therefore, are subject to material variation. Prospective purchasers of the Real Estate are advised and encouraged to conduct their own comprehensive review and analysis of the Real estate.
The Offering Memorandum is a solicitation of interest only and is not an offer to sell the Real Estate. The Seller and Broker expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Real Estate and expressly reserve the right, at their sole discretion, to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Real Estate unless and until a written agreement satisfactory to the Seller hereunder have been satisfied or waived.
This Offering Memorandum is confidential. By accepting the Offering Memorandum, you agree (i) that you hold and treat the Offering Memorandum and its contents in the strictest confidence, (ii) that you will not photocopy or duplicate any part of the Offering Memorandum, (iii) that you will not disclose the Offering Memorandum or any of its contents to any other entity without the prior written authorization of Broker, and (iv) that you will not use the Offering Memorandum in any fashion or manner detrimental to the Interest of the Seller or Broker.
The terms and conditions stated in the section will relate to all of the sections of the package as if stated independently therein. If, after reviewing this package, you have no further interest in purchasing the Property at this time, kindly return this brochure to Broker at your earliest convenience.
Contact
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
DaVita Incorporated, a Fortune 500 company, is the parent company of DaVita Kidney Care and HealthCare Partners, a DaVita Medical Group. DaVita Kidney Care is a leading provider of kidney care in the United States, delivering dialysis services to patients with chronic kidney failure and end stage renal disease. DaVita Kidney Care consistently differentiates itself from other kidney care companies and surpasses national averages for clinical outcomes. The company’s clinical outcomes for dialysis have improved for the past decade, and in many areas measuring quality dialysis care, we lead the nation. As of December 31, 2016, DaVita Kidney Care operated or provided administrative services at 2,350 outpatient dialysis centers, located in the United States serving approximately 188,000 patients. The company also operated 154 outpatient dialysis centers located in 11 countries outside the United States.
TENANT OVERVIEW - DAVITA DIALYSIS
TENANT TRADE NAME
OWNERSHIP
TENANT
LEASE GUARANTOR
NUMBER OF LOCATIONS
HEADQUARTERED
WEB SITE
SALES VOLUME
NET WORTH
STOCK SYMBOL
BOARD
CREDIT RATING
RATING AGENCY
RANK
DaVita Kidney Care
Public
Total Renal Care, Incorporated (Inc.)
DaVita, Incorporated (Inc.)
2,300+
Denver, CO
https://www.davita.com/
$14.7 Billion (2016)
$4.6 Billion (2016)
DVA
NYSE
BB
Standard & Poor’s (S&P)
#181 in Fortune 500 (2017)
TENANT PROFILE
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
OFFERING HIGHLIGHTS
OFFERING
Pricing $911,800.00
Net Operating Income $54,708.00
CAP Rate 6.0%
Guaranty Corporate
Tenant Total Renal Care, Inc.
Lease Type NNN
Landlord Responibilities Roof, Structure and Parking Lot
PROPERTY SPECIFICATIONSRentable Area 8,416 SF
Land Area 1.42 Acres
Property Address 9127 N. 76th St., Milwaukee, WI 53223
Year Built/Remodeled 1986/2005
Ownership Fee Simple (Land and Building)
**Landlord will CSM Davita portion of the Shopping Center**
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
RENT ROLL
Lease Term
TENANT NAME SQUARE FEET LEASE START LEASE END
Total Renal Care, Inc. 8,416 8/1/17 7/31/26
Rental Rates
TENANT NAME YEARS MONTHLY PSF ANNUALLY RECOVERY TYPE
Total Renal Care, Inc. 1-5 $4,559.06 $6.50 $54,708.00 NNN
6-10 $4,909.00 $7.00 $58,908.00 NNN
Renewal Options 11-15 $5,302.00 $7.56 $63,624.00 NNN
16-20 $5,726.00 $8.16 $68,712.00 NNN
21-25 $6,184.00 $8.82 $74,208.00 NNN
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
ACCESSCenter is on a lighted intersection on the corner of N. 76th St. and W. Northridge Lakes Blvd.
TRAFFIC COUNTS • Brown Deer Rd. - 35,700 cpd• N. 76th St. - 21,800 cpd
IMPROVEMENTS• Turn key buildout• State of the art facility
PARKING• Ample• Over 200 parking stalls
YEAR BUILT• 1986• Remodeled 2005
PARCEL• Parcel Number: 032-0062-000-2• Acres: 1.42
ZONING• RB1
PROPERTY OVERVIEW
35,700 TRAFFIC COUNT ON BROWN DEER ROAD DAILY
21,800 TRAFFIC COUNT ON N. 76TH STREET DAILY
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
DW
20 PATIENTS + 2 HT RMS16 TEAMMATES
WAITING SEATING (3:4)= 15 + 2HC
BUSINESSASSIST (1:10)= 2
CONFERENCE75% TEAMMATES= 12
LOUNGE50% TEAMMATES= 8
TREATMENT RMCOAT HOOKS= 20WC STOR(1:4)= 5IV POLES(1:4)= 5O2 (1:4)= 5CLEAN SINK (1:4)= 5DIRTY SINK(1:8)= 3
NURSE(1:12)= 2
MED PREPREFRIG (1:20)= 1
LABREFRIG (1:30)= 1
BIOMEDDIALYSIS MACH.= 2
STORAGESHELVINGS (1:3)= 8PALLETS (1:6)= 4
PCT STATION
20
14
' - 0
"
5
6
7
8
9
10
HEMO 7,526 SF
HOME 890 SF
REPLACE STOREFRONTREPLACE STOREFRONT REPLACE STOREFRONT
RE
PL
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TO
RE
FR
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TR
EP
LA
CE
ST
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RO
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390 SF
WT
REPLACE STOREFRONT
85 SF
CHARTS
169 SF
BUSINESS
76 SF
HUDDLE
120 SF
HT
OFFICE
154 SF
HT-2
154 SF
HT-1
65 SF
AIRLOCK
409 SF
STORAGE
222 SF
CONFERENCE
128 SF
BIOMED
5' - 0"
72 SF
SW
70 SF
DIET
60 SF
TOILET
62 SF
TOILET
79 SF
IT
215 SF
LOUNGE
11131415
5' - 0"
62 SF
TOILET
67 SF
IW
MOVA
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PRIV
ATE
SCRE
EN
SCALE
STOR
DAVITA BRAND WALL
GOWNS HOOKS
PRIN
TER/
EVAC
KIT
5' - 0"
BOTTLE WATER FILLER
PROJECTION WALL
WAITING
14' - 7"
CRASH CART
125 SF
FA
PCT STATION
12
17
19
16
IVP
18
D
PCT STATION
2 31 4
10'-0"
8'-0"
121 SF
PRIVATE
PATIENT
2825 SF
TREATMENT
RM
PATIENT
PREP
LAB
MED
PREP
TOILET
WC
STOR
C
3'-6" DOOR
3'-6" DOOR
3'-6" DOOR
3'-6" DOOR
3'-6" DOOR
3'-6" DOOR
3'-6" DOOR 3'-6"
DOOR
3'-6" DOOR
INFILL OPENING
INFILL OPENING DSDS
METER5'-4"DOOR
48 SF
JANITOR
C
REPLACE STOREFRONT
14' - 6 1/2" 104' - 7 1/2"
4''-0" DOOR
ELECT PANELS
EYE WASH
HT
NURSE
NURSE
EYE WASH C
NURSE D
COXYGEN CONC.
CRASH CART C
PCT STATION C
D
MDP
3'-6" DOOR
3'-6" DOOR
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ISSUANCE
OWNER
SHEET No.
PROJECT
ARCHITECTAPPROVALS
D.O.C.:D.M.:P.M.:R.O.D.:BIO MED.:C.S.S.:S.O.S./S.A.I.L.:+ F.A.:+ PD-HHD P.M.:+ = IF APPLICABLE
PRELIMINARY FLOORINGMATERIALS TAKE-OFFSRESINOUSSHEET VINYLLUXURY VINYL TILECARPET TILE
TOTAL RSF:1234567
ARCH
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PR
OJEC
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MBER
:
PROTOTYPE:
DEVELOPMENT:TOTAL USF:
SEALED CONCRETE
11/21
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3/32" = 1'-0"1
PRELIMINARY FLOOR PLAN 8,416 SF
PRELIMINARY 112116
BUILD OUT
V2.0
8,109 SF
874 SF4,186SF
919 SF409 SF
1,126 SF
FLOOR PLAN
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
AREA DEMOGRAPHICS
2017 Demographics
1 MILE 3 MILE 5 MILE
Population 8,824 44,664 132,567
Median HH Income $36,369 $52,024 $53,956
Total Employees 3,472 37,775 87,899
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
Caption
PLACE IN AERIAL MAP
414.271.1111 | www.founders3.comInformation shown herein was provided by Seller/Lessor and/or third parties and has not been verified by the broker unless otherwise indicated.
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D A V I T A K I D N E Y C A R E O F F E R I N G M E M O R A N D U M
A Great Place on a Great LakeThe metropolitan statistical area of Milwaukee has a population of approximately 1.6 million, making it the 39th largest metropolitan area in the United States. By area, the City of Milwaukee covers 96 square miles; Milwaukee County 242 square miles; and the metro area 1,460 square miles. Metro Milwaukee is located 90 minutes north of Chicago on Lake Michigan’s western shore. Milwaukee’s central location makes it’s a natural marketing hub. Over seventy million people and one-third of the U.S. manufacturing volume are located within 600 miles of Milwaukee.
Corporate HeadquartersSeven Fortune 500 companies are headquartered in the metro Milwaukee area, while more than 40 Fortune 500 companies have major Milwaukee operations such as General Electric, Northwestern Mutual and MillerCoors. Companies headquartered in Milwaukee are national leaders in industries such as air travel services, banking, data processing, insurance, law, manufacturing, money management, retail department stores and securities. Northwestern Mutual has recently completed its brand new 34-story headquarters, an all-glass high-rise along Milwaukee’s waterfront and skyline.
MILWAUKEE & MARKET OVERVIEW
EducationMilwaukee and Wisconsin are noted for having a well-educated workforce with a strong work ethic. Eighty-nine percent of metro Milwaukee’s working population are high school graduates, while 32% are college graduates - both higher than national averages. Milwaukee’s 22 institutions of higher learning enroll 103,000 students and grant 19,500 degrees and certificates annually. Metro Milwaukee is home to 14 colleges and universities and eight two-year colleges. Wisconsin’s public vocational education system - the nation’s first and considered one of its finest - maintains three area colleges.
EntertainmentMilwaukee has become a hub for attracting and retaining young professionals. Many neighborhoods such as the Historic Third Ward, Eastside and Bay View district have evolved Milwaukee’s drab winter image to that of a modern and edgy vibe. The Milwaukee Film Festival, Museums, Outdoor Festivals including Summerfest “The World’s Largest Music Festival” and theaters have all helped fuel a nonstop lineup of music and other entertainment downtown; helping to retain the younger generations. A low cost of living, compared to other neighboring big cities, and Milwaukee’s commitment to contantly improving the transportion, safety and mobility of the city have all attributed to its appeal to the millenial generation. Young professional groups such as Newaukee have given a voice to the younger generation, making them feel vested in the direction that the city is headed.
Additionally Milwaukee’s Professional Sports Teams such as the Milwaukee Brewers and the Milwaukee Bucks bring immense excitement to the area with both its sporting events and development of the local community. Miller Park, home of the Brewers, is best known for the tailgating and sausage races. It was constructed in 2001 at a cost of $400 million and is 10 minutes from Downtown. It boasts a re-tractable roof and one of the largest scoreboards in MLB.
The Milwaukee Bucks are currently in the midst of transforming an undeveloped Downtown land parcel into a transformational entertainment hub that will include both the new $500 million arena as well as an adjacent $500 million mixed-use live block development, which will house the Bucks training facility, multi-use housing and a 60,000 SF public plaza.